we have denting and sls. they're also going to develop new casino resorts. will the demand be able to absorb the supply? susquehanna ran some figures as to what it could mean to you moving forward, that excess supply. they say it could cost you $1.60 a share in equity value. that's 11% downside to their price target of $15. what would you say to that analysis? >> well, as an ex-analyst i'd have to say that's flawed. and the answer is that the billions of dollars that have already been invested here in las vegas by ourselves an our competitors, that's the foundation of growth here. you won't see a lot of new capacity. the two properties you've mentioned is just a very small number of rooms relative to the room base that's already here. we're not going to build a new resort. neither will winn. neither will venetian. neither will caesar's. you won't see large supply growth like you did in the '80s, '90s and earlier part of this century. so i think that the capital investments we're making -- for example, opening up exirsing resorts like new york new york and mo